Sparks of GFI acts for buyer and seller in $5.875 million deal

Bronx, NY GFI Realty Services, LLC handled the $5.875 million sale of 316-322 East 149^th St., a two-story retail property located in the Mott Haven neighborhood. GFI Realty senior managing director Matthew Sparks represented both the seller, Maria D’Onofrio, and the buyer, a local investor.

Constructed in 1931, the 12,000 s/f property is comprised of 6,000 s/f of ground floor retail space and 6,000 s/f of office space on the second floor.  The asset also boasts 100 ft. of frontage on East 149^th St. in the HUB, a major commercial district in the area. Additionally, the asset situated on an 8,600 s/f lot, has 17,544 s/f of air rights available.

“This acquisition, situated in one of the most dynamic and thriving commercial corridors in the Bronx, is a great value add opportunity for the buyer,” said Sparks.

The asset is a block away from Lincoln Medical Center, the 3^rd Ave. commercial corridor and is close to the 2-5 subway lines.